This invention relates to point-of-sale devices and to point-of-sale transactions. More particularly, this invention relates to an integrated point-of-sale device capable of facilitating transactions associated with one or more transaction systems.
In the sale of goods by a merchant to a customer, point-of-sale devices are used by the merchant to complete a transaction. For example, a common cash register can be used to tally the cost of items purchased, accept cash payments, and return the proper amount of change. In some cases, such a register can be used in conjunction with a credit card reader. More particularly, the merchant can ring up a total amount due on the register, pass the credit card through a card reader to debit the customer account, and in turn the register recognizes the payment by credit card. While devices for completing such transactions exist, the functionality of such devices is quite limited. Furthermore, such devices are typically limited to accessing records maintained by a merchant. Thus, for example, it can be impossible for a merchant to determine if a credit card offered for payment is a stolen card. In some cases, obtaining additional functionality to, for example, determine if a credit card is stolen, can be achieved by installing equipment in addition to the cash register. This additional equipment typically must be individually installed, configured and maintained. Such an approach is costly and inefficient.
Furthermore, such an approach of using stand alone devices requires a merchant to become the interface between each of the devices which requires additional, costly training. Yet further, a number of functions useful to both merchants and customers cannot be facilitated using systems and methods known in the current art.
For the foregoing reasons, there is a need for a point-of-sale payment terminal and methods of using such that overcome the limitations of the current art. Hence, among a number of other advantages apparent from the following description, the present invention provides systems and methods for addressing the aforementioned limitations of the current art.
Among other things, the present invention provides a variety of methods for effectuating transactions using a point-of-sale device. Indeed, the present invention is applicable to a broad range of transaction types including, but not limited to, money or other value transfers, value transfers, check acceptance protocols, loyalty program utilization, fraud detection, and the like. The methods of the present invention provide the ability to fulfill the various transaction types through access to one or more transaction systems accessible to the point-of-sale device. Thus, in some instances, a common point-of-sale device can be used to effectuate different transaction types depending upon which transaction systems are accessible to the point-of-sale device.
As will be appreciated by reading the detailed description, such point-of-sale devices can be configured in a variety of ways and incorporate a variety of different components. Further, such components can be integrated into a single device, into a base unit and peripheral unit, or into a device modifiable with add-in circuit cards and/or plug-in components.
In one particular embodiment of the present invention, a method for effectuating transactions is provided. The method includes providing a point-of-sale device with a processor and a memory. The point of sale device is associated with two transaction systems thereby allowing the point-of-sale device to facilitate transactions using either or both of the systems. Thus, when transaction requests are received via the point-of-sale device, the requests are fulfilled by accessing one or both of the transaction systems.
In one particular instance, associating the point-of-sale device with a transaction system includes communicably coupling the point-of-sale device to the transaction system via a communication network. In addition, instructions that are executable by the processor to facilitate transactions are loaded into the memory. In particular instances, the instructions can be loaded by a transaction system, by a point-of-sale device control system, or by direct access to the point-of-sale device including access during manufacture or after installation at a merchant location.
In one implementation of the present invention, one of the transaction systems is a money transfer system and the other transaction system is a fraud detection system. Using such a system to fulfill transactions can include determining if the transaction is suspicious, and transferring money from a source to a destination. The destination can include another point-of-sale device useful for obtaining the transferred money.
In another implementation of the present invention, one of the transaction systems is a stored value card system. By accessing such a system, transaction request to purchase a stored value card can be effectuated. In some cases, effectuating the request can include entering an amount of payment into the point-of-sale device and tendering the amount from a customer. At least some of the tendered funds can be loaded onto the stored value card which can then be issued to the customer. In particular aspects, issuing the card is performed via a card issuer associated with the point-of-sale device. In some aspects the funds loaded onto the stored value card are communicated to the stored value card system which can maintain a balance of funds remaining on the stored value card. In particular aspects the customer is also identified to the stored value card system and the account is associated with the customer""s identification.
The stored value card can be used to make purchases or for other transactions. Thus, some aspects of the present invention include receiving the stored value card at an interface associated with the point-of-sale device, contacting the stored value card system and communicating both the stored value card and an amount, and receiving an approval from the stored value card system to charge the goods or services against the stored value card. In addition, a receipt printed by a printer associated with the stored value card can be printed.
In some aspects of the present invention, the customer is identified to the point-of-sale device. Such identification can include providing customer information via a keyboard associated with the point-of-sale device, by swiping a card containing customer information through an interface associated with the point-of-sale device, by receiving a radio frequency signal at the point-of-sale device from a transmitting device associated with the customer, or by other such methods.
In another aspect of the present invention, one of the transaction systems is a check acceptance system. Such a check acceptance system can be accessed by the point-of-sale device to effectuate receiving payment by a check or other similar financial instrument. Fulfilling such transactions can include inserting a check into the point-of-sale device, and reading the MICR line of the check using a MICR reader associated with the point-of-sale device.
Fulfilling the transaction can further include entering an amount of the check via the input interface, communicating the amount and information associated with the MICR line to the check acceptance system using the communication device, and receiving an authorization to accept the check from the check acceptance system. In some cases, this authorization includes an indication that the check can be processed using electronic check authorization, and in other cases, the authorization includes an indication that the check is either good or bad.
In some aspects, a transaction receipt is printed using a printer associated with the point-of-sale device, and in yet other aspects, funds associated with the check are electronically transferred from an entity associated with the check to an account associated with a merchant operating the point-of-sale device. Various aspects include use of a point-of-sale device including both a slip printer and a roll printer. The roll printer can be used to print the aforementioned receipt, while the slip printer can be used to deface the check. Thus, the transaction can include electronically transferring funds from a checking account associated with the check to a destination, such as, the merchant""s account, and returning the defaced check to the customer.
In some aspects, the check acceptance system indicates that the check cannot be processed using electronic check acceptance. Thus, in some cases, the check is accepted from the customer, inserted into the point-of-sale device, and franked using the slip printer. The check can be retained by the merchant for submission to the merchant""s bank and subsequent check processing. Further, in some aspects, the check can be printed using one or more printers associated with the point-of-sale device.
In another embodiment of the present invention, a method for performing electronic check authorization is provided. The method includes providing a point-of-sale device that has a processor, a memory, a printer, an input interface, and a MICR reader. The point-of-sale device is communicably coupled with a check acceptance system. A check is inserted into the point-of-sale device and the MICR line of the check is read by the MICR reader. The MICR information is communicated to the check acceptance system and one or more transactions are completed similar to those discussed above.
In yet another embodiment, the point-of-sale device is associated with three transaction systems and all three transaction systems are used to effectuate a transaction. It should be noted that the point-of-sale device can be associated with any number of transaction systems and any combination of those transaction systems can be used to effectuate one or more transactions. Further, it should be recognized that the transactions performed using the systems and methods disclosed herein can be compound transactions involving multiple transaction types and/or multiple transaction systems.
This summary provides only a general outline of the embodiments according to the present invention. Many other objects, features and advantages of the present invention will become more fully apparent from the following detailed description, the appended claims and the accompanying drawings.